COE prices end mixed in latest bidding exercise

PHOTO: The Straits Times

SINGAPORE - Certificate of Entitlement (COE) prices ended mixed in the first round of the bidding exercise in April.

For Category A cars that are 1,600cc and below with a horsepower of 130bhp, premiums went up to $46,009 from $45,504 in the previous COE exercise in March, said a statement from the Land Transport Authority (LTA).

Premiums for Category B cars that are above 1600cc went up to $47,000 from $46,502 previously.

In Category C that is for goods vehicles and buses, premiums went down to $44,213 from $46,502.

For Category D that is for motorcycles, premiums also went down to $6,503 from $6,589.

And in the open Category E, premiums went up to $47,510 from $46,667.

LTA received 8,053 bids at the end of the April first open bidding exercise for COEs. Of these, 4,184 were successful.

The Straits Times reported that motor traders said buying sentiment remains weak, and bidding is expected to stay subdued in the next tender two weeks from now.

SGCarMart reported that it anticipates more people will want to renew their COEs instead of buying brand new cars, and expect the demand for new cars to remain fairly steady.